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Apr 20, 2013
04/13
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now, some people can't understand what the trade deficit is, some will, but the trade deficit is the difference between what america exports and what we import so what it really means to say that we're $500 billion out of balance for the rest of the world is that we're consuming more than we produce to the tune of $500 billion a year. the reason that's true is the only place you can get goods to consume is you either make them yourself or import them from someplace else. this is another way in which the united states is living beyond its means. now, those remarks were to try to get you interested. people don't usually pay money to hear me speak. i assume you are all at least somewhat interested. if you look at free trade, once you understand there's an issue here with the trade situation, if any of you got a wallet on you, pull out a ten dollar bill. the guy on the ten dollar bill etary of the treasury, ca the intellectual architect of american capitalism, one of the founding father, and an envowed protectionist as was abraham lincoln, as was virtually every president prior to world
now, some people can't understand what the trade deficit is, some will, but the trade deficit is the difference between what america exports and what we import so what it really means to say that we're $500 billion out of balance for the rest of the world is that we're consuming more than we produce to the tune of $500 billion a year. the reason that's true is the only place you can get goods to consume is you either make them yourself or import them from someplace else. this is another way in...
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Apr 20, 2013
04/13
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have been deficits for four years. but sometimes you need some, you get it, other times, in germany, to end with one poll that is quite interesting. you may know, you may have known that of course there's a lot of concern in public opinion, is it not the wrong decision to care for the european monetary, if you look at -- be have the highest polls we ever had, and shoo we stay in the euro or not. 70%, which is high, said, yes, we have to stay. we have to solve the problem. and it's a good basic. thank you very much. >> thank you very much. [applause] >> let me just start the questions by asking you, we have seen major initiatives in both the united states and europe to regulate banks. is more coordination needed between the two of us and if so, how would you recommend that we could achieve that. >> obviously more coordinate needed, but we try to find solutions in europe. we know that u.s. has in some way gone ahead, but we will work -- we discuss -- it's not most problematic issue actually, to have common understanding
have been deficits for four years. but sometimes you need some, you get it, other times, in germany, to end with one poll that is quite interesting. you may know, you may have known that of course there's a lot of concern in public opinion, is it not the wrong decision to care for the european monetary, if you look at -- be have the highest polls we ever had, and shoo we stay in the euro or not. 70%, which is high, said, yes, we have to stay. we have to solve the problem. and it's a good basic....
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the deficit is the outcome really what you should be targeting is is growth and you should be looking to to smooth out over this cycle to have some sort of a policy that allows you to have maximum plummet at all times and the deficit will be lower as a result of that if you have the appropriate tax policy let me let me jump in for a second because i understand you're saying that you've got three avenues to pursue and different countries would require different prescriptions unfortunately in these countries you have different lobbying groups and different ideologies off competing to get their ideology and their policies through they all think they have the best policy the reason i bring this up is because here in the u.k. margaret thatcher has died margaret thatcher there's a big margaret that there's a funeral there's a huge outpouring of emotion about margaret thatcher back in the seventy's when she assumed power she too had all these competing voices telling her what to do she took a survey very strong position for better or worse she took action so my question to you as a long term
the deficit is the outcome really what you should be targeting is is growth and you should be looking to to smooth out over this cycle to have some sort of a policy that allows you to have maximum plummet at all times and the deficit will be lower as a result of that if you have the appropriate tax policy let me let me jump in for a second because i understand you're saying that you've got three avenues to pursue and different countries would require different prescriptions unfortunately in...
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Apr 17, 2013
04/13
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we had no capacity to deal with it other than by we were in deficit and had a bigger deficit. we have to slowly work our way out. the budget gets us to a solid stable place. >> what is the highest rate you think can be charged to small business? >> i'm sorry. >> we're 39% now. the highest in the nation. that -- i can tell you that doesn't help small business. what is the highest rate you and the president think they can charge small business before they collapse and break? >> obviously businesses choose whether to organize on the corporate side or individual side. we we have not proposed any increase beyond the current 39.6 on the individual side. the better we do -- i heard you talk about. what is his deal. >> it was not a simple as this. it was difficult negotiation we were negotiating with republicans to refuse to put taxes on the table. >> forget it. let me pose this. i'm a small business owner and i can tell you your not helping small business. the burden that the administration is putting on small business unbelievable. i would suggest you look at texas or nod see what l
we had no capacity to deal with it other than by we were in deficit and had a bigger deficit. we have to slowly work our way out. the budget gets us to a solid stable place. >> what is the highest rate you think can be charged to small business? >> i'm sorry. >> we're 39% now. the highest in the nation. that -- i can tell you that doesn't help small business. what is the highest rate you and the president think they can charge small business before they collapse and break?...
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the deficit is the outcome really what you should be targeting is is growth and you should be looking to to smooth out over this cycle to have some sort of a policy that allows you to have maximum plummet at all times and the deficit will be lower as a result of that if you have the appropriate tax policy let me let me jump in for a second because i understand you're saying that you've got three avenues to pursue and different countries would require different prescriptions unfortunately in these countries you have different lobbying groups and different ideologies all competing to get their ideology and their policies through they all think they have the best policy no reason to bring this up is because here in the u.k. margaret thatcher has died margaret thatcher there's a big margaret that there's a funeral there's a huge outpouring of emotion about margaret thatcher back in the seventy's when she assumed power she too had all these competing voices telling her what to do she took a survey very strong position for better or worse she took action so my question to you as a long term
the deficit is the outcome really what you should be targeting is is growth and you should be looking to to smooth out over this cycle to have some sort of a policy that allows you to have maximum plummet at all times and the deficit will be lower as a result of that if you have the appropriate tax policy let me let me jump in for a second because i understand you're saying that you've got three avenues to pursue and different countries would require different prescriptions unfortunately in...
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trade deficit with. a devastated middle class. so the first part deals with those kinds of problems a second part shows what is happening to the american labor force it in effect has been turned into a third world labor force where they only available jobs are and lowly paid the best services so that they can affect. the new economy is to have to have an undeveloped area of commerce and the third part deals with the current. so-called sovereign debt crisis in europe and shows that it's being used to establish two things one that the public must bear the cost of mistakes made by private banks and the other use the so-called crisis is to take away the sovereignty of the individual countries by turning their budget and tax policy over to to the e.u. so that's what the book does it walks you through basically the failure of economics the failure of all of the apologists for the failed policies now what happened with . while it did i use the failure of laissez faire capitalism well if you look back over the last quarter century it's be
trade deficit with. a devastated middle class. so the first part deals with those kinds of problems a second part shows what is happening to the american labor force it in effect has been turned into a third world labor force where they only available jobs are and lowly paid the best services so that they can affect. the new economy is to have to have an undeveloped area of commerce and the third part deals with the current. so-called sovereign debt crisis in europe and shows that it's being...
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Apr 22, 2013
04/13
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greece has made a lot of progress in reducing deficit as well. therefore, we are regaining confidence. and if you look at market, markets are very, have regained a lot of confidence. and bonds for all member states, including italy, spain, all the concerned countries, are below they used to be before the crisis. therefore, markets have regained what we are doing now is building the next step, building the banking union. we have already agreed on mechanisms because we need a strong european supervision of banks because our banking works not only in the frame of one member state, but all of us. we need a european mechanism and a european supervision. we haveimemented, we will implement a supervise mechanism in the coming weekings. it -- weeks. it has been already decided. we will build, we have a european regulation on deposit insurance. we have a european regulation on our -- it is not yet decided, but it's drafted, and it is on the way on regulation that was -- [inaudible] mechanism as well. and, therefore, we are working step by step in the dire
greece has made a lot of progress in reducing deficit as well. therefore, we are regaining confidence. and if you look at market, markets are very, have regained a lot of confidence. and bonds for all member states, including italy, spain, all the concerned countries, are below they used to be before the crisis. therefore, markets have regained what we are doing now is building the next step, building the banking union. we have already agreed on mechanisms because we need a strong european...
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trade deficit with. a devastated middle class. so the first part deals with those kinds of problems the second are shows what is happening to the american labor force it in effect has been turned into a third world labor force where the only available jobs are and lowly paid the best services so that the effect of. the new economy is to have to have an undeveloped very real economy and the third part deals with the current. so called sovereign debt crisis in europe and shows that it's being used to establish. two things one that the public must bear the cost of mistakes made by private banks and the other use of the so-called crisis is to take away the sovereignty of the individual countries by turning their budget and tax policy over to to the e.u. so that's what the book about as it walks you through basically the failure of economics the failure of all of the apologists for the failure policies now what happened with while it did i use the failure of laissez faire capitalism well if you look back over the last quarter century i
trade deficit with. a devastated middle class. so the first part deals with those kinds of problems the second are shows what is happening to the american labor force it in effect has been turned into a third world labor force where the only available jobs are and lowly paid the best services so that the effect of. the new economy is to have to have an undeveloped very real economy and the third part deals with the current. so called sovereign debt crisis in europe and shows that it's being...
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Apr 17, 2013
04/13
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the administration said we reduced deficit by police $2.6. the president is responsible for all the policy enacted before when he was in office for the first two years. if you add back the money for the stimlis, the payroll tax holiday, the 24% increase in domestic spend. total deficit reduction when you net it out comes close to $5 billion. not the higher number. you have to add both sides. all of those savings have been signed to law. this is the second line on the chart. once you take out the baseline gains and add back nearly spending increase in the budget when the gimmick removed and spending counted. total deficit reduction comes to $1 19 billion. we see it as a disappointment. because it's a missed opportunity. we need a new floach washington to meet the most pressing challenges. that's what we are offering. we offer a plan to balance the budget in ten years which we think is a critical to growing a healthy economy. we extend opportunity for them. we guarantee we think we need to get back to work to repair the safety net there in a re
the administration said we reduced deficit by police $2.6. the president is responsible for all the policy enacted before when he was in office for the first two years. if you add back the money for the stimlis, the payroll tax holiday, the 24% increase in domestic spend. total deficit reduction when you net it out comes close to $5 billion. not the higher number. you have to add both sides. all of those savings have been signed to law. this is the second line on the chart. once you take out...
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Apr 24, 2013
04/13
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to make as to how we deal with the deficit. i think that when we lose $100 billion every single year because corporations stash their money in the cayman islands and in other tax havens, maybe we might want to ask them to start paying their fair share of taxes rather than cutting social security. but we have colleagues who are much more interested in the well-being and the profits of large corporations than they are in the needs of seniors. so those are some of my answers. mr. harkin: a couple of thoughts, i just say to my friend from vermont. those who say it is unconstitutional to do those things, i wonder if they ever read the preamble to the constitution, which is, by the way, a part of the constitution of the united states. we the people of the united states in order to form a more perfect union, establish justice, ensure domestic tranquillity, provide for the common defense, promote the general welfare. that's part of the constitution of the united states. so how we do that obviously can vary from time to time, generation
to make as to how we deal with the deficit. i think that when we lose $100 billion every single year because corporations stash their money in the cayman islands and in other tax havens, maybe we might want to ask them to start paying their fair share of taxes rather than cutting social security. but we have colleagues who are much more interested in the well-being and the profits of large corporations than they are in the needs of seniors. so those are some of my answers. mr. harkin: a couple...
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Apr 20, 2013
04/13
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so as much talk as there is right now about fiscal deficits, only let the world economy, it is perhaps part of future growth . the willingness to reciprocate and recognize the underlying the chances for prosperity. so the last they'll like to say, something a bit extraordinary. the catholic church, couple and their foreign. big changes. the world's most. the future, the future lies largely in the future of the church and the emerging markets. but as those in the catholic church and the images that come of the just of the emerging world so that we can all share in the futures. a muffled. [applause] >> how can you had the discipline and the clarity and a example i would use would be check, we don't trust them to keep the country afloat. we don't trust them to properly regulate. how do we maintain solid discipline free trade relations and support their growth, support our gross? >> as i think about that this get -- discipline plus clarity. the use the example of free trade discipline is the contrast of free trade means that we both imports and exports to prosper. we often fall. a tremendo
so as much talk as there is right now about fiscal deficits, only let the world economy, it is perhaps part of future growth . the willingness to reciprocate and recognize the underlying the chances for prosperity. so the last they'll like to say, something a bit extraordinary. the catholic church, couple and their foreign. big changes. the world's most. the future, the future lies largely in the future of the church and the emerging markets. but as those in the catholic church and the images...
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Apr 24, 2013
04/13
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together with the deficit reduction enacted last congress, the senate budget would reduce the deficit by $4.3 trillion. through a nearly two to one mix of spending cuts and revenue, two parts spending cuts to one part revenue. house republicans took a very different approach with their budget, making only cuts, drastic cuts to education, to law enforcement, to medical research, even ending medicare as we know it for future retirees. the house budget derives its deficit reduction from cuts that primarily hurt low-income and middle-class americans while refusing to touch a single tax give-away to wealthy and well-connected special interests. senate democrats took a middle course. house republicans produced an extremist tea party wish list. in his own budget plan, president obama included some smart provisions like investments in infrastructure and the buffett rule for tax fairness. and i respect the president's outreach to a compromise with republicans, but i cannot support the cuts to social security benefits in his plan. it is simply wrong to place the burden of deficit reduction on s
together with the deficit reduction enacted last congress, the senate budget would reduce the deficit by $4.3 trillion. through a nearly two to one mix of spending cuts and revenue, two parts spending cuts to one part revenue. house republicans took a very different approach with their budget, making only cuts, drastic cuts to education, to law enforcement, to medical research, even ending medicare as we know it for future retirees. the house budget derives its deficit reduction from cuts that...
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Apr 24, 2013
04/13
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we are wrestling with this larges budget deficit. we know that there are management challenges and when you say o.m.b., it is office of management and budget. who is confirmed in this position is expected to ride herd, to oversee a group of team, a good team, that will focus on budget, thousand continue to rein in our budget deficit and bring it back to a more sustainable fiscal position for us and what is do we need to do on the management side to help hastening that day? we have across the federal government in this administration -- we had it in the bush administration, the last bush administration as well -- something i call executive branch swiss cheese. we've too many positions, senior positions in this administration. we had a uminfor number of theme last position. in some cases the administration has not vetted, nominated, and submitted names us to. in some conveyings we're not moving them very quickly thuns they have. there is a shared responsibility here. the administration -- in this case we haven't had a confirmed directo
we are wrestling with this larges budget deficit. we know that there are management challenges and when you say o.m.b., it is office of management and budget. who is confirmed in this position is expected to ride herd, to oversee a group of team, a good team, that will focus on budget, thousand continue to rein in our budget deficit and bring it back to a more sustainable fiscal position for us and what is do we need to do on the management side to help hastening that day? we have across the...
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the deficit is the outcome really what you should be targeting is is growth and you should be looking to to smooth out over this cycle to have some sort of a policy that allows you to have maximum plummet at all times and the deficit will be lower as a result of that if you have the appropriate tax policy i let me let me jump in for a second because i understand you're saying that you've got three avenues to pursue and different countries would require different prescriptions unfortunately in these countries you have different lobbying groups and different ideologies off impeding to get their ideology and their policies through they all think they have the best policy the reason i bring this up is because here in the u.k. margaret thatcher has died margaret thatcher there's a big margaret that there's a funeral there's a huge outpouring of emotion about margaret thatcher back in the seventy's when she assumed power she too had all these competing voices telling her what to do she took a survey very strong position for better or worse she took action so my question to you as a long ter
the deficit is the outcome really what you should be targeting is is growth and you should be looking to to smooth out over this cycle to have some sort of a policy that allows you to have maximum plummet at all times and the deficit will be lower as a result of that if you have the appropriate tax policy i let me let me jump in for a second because i understand you're saying that you've got three avenues to pursue and different countries would require different prescriptions unfortunately in...
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Apr 18, 2013
04/13
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you raise the age gradually 27862 thirds of the social security deficit. fix the remaining by testing the benefits. the president has occasionally sad he's for entitlement reform, but is not shown much leadership on this premise seems to benchmark per se, but any with him at least a 47 republican senators, we sat around a table that he and the vice president a year and half ago and i told them i think we should give people on both sides to essentially fix social security. .. into the federal employee benefits plan, federal health insurance plans so i said this is a democrat idea, this will be easy. i be easy. i will just go to john kerry and say let's use your idea and a friedel country but for senior citizens and let everybody of the federal employee health plan. i think the public would like it if they are still getting the same health plan is their congressman is and should be eminently sellable. similar to what paul ryan talks about give everybody the federal health employment plan. it saves 1 trillion over 10 years and actually according to our projec
you raise the age gradually 27862 thirds of the social security deficit. fix the remaining by testing the benefits. the president has occasionally sad he's for entitlement reform, but is not shown much leadership on this premise seems to benchmark per se, but any with him at least a 47 republican senators, we sat around a table that he and the vice president a year and half ago and i told them i think we should give people on both sides to essentially fix social security. .. into the federal...
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Apr 23, 2013
04/13
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deficits continue far into the future. the president also offered no real entitlement reform and no plan to grow america's stagnant economy. president obama is truly budgeting from behind. what's interesting about this budget, though, is it's not just how late it was. it's that it -- it isn't just what he says about what that says about the lack of leadership from the white house. what's also very interesting is what this budget says about the coming train wreck of the president's own health care law. the train wreck succombing not just because the -- the train wreck is coming not just because the health care law is unaffordable for families, it is unaffordable for taxpayers of this country. it fails to slow down washington spending, but it is also dishonest about how much of a budget buster his health care law will be. in fact, the administration has used a lot of smoke and mirrors to try to hide the true cost of the health care law. here's how the associated press put it. they ran an article titled "tracking obama's heal
deficits continue far into the future. the president also offered no real entitlement reform and no plan to grow america's stagnant economy. president obama is truly budgeting from behind. what's interesting about this budget, though, is it's not just how late it was. it's that it -- it isn't just what he says about what that says about the lack of leadership from the white house. what's also very interesting is what this budget says about the coming train wreck of the president's own health...
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trade deficit with. a devastated middle class. so the first part deals with those kinds of problems the second are shows what is happening to the american labor force it in effect has been turned into a third world labor force where the only available jobs are and lowly paid the best services so that they can effect. the new economy is to have an undeveloped very rural economy and the third part deals with the current. so called sovereign debt crisis in europe and shows that it's being used to establish. two things one that the public must bear the cost of mistakes made by private banks and the other use of the so-called crisis is to take away the sovereignty of the individual countries by turning their budget and tax policy over to to the e.u. so that's what the book about as it walks you through basically the failure of economics the failure of all of the apologists for the failure policies now what happened with while it did i use the failure of laissez faire capitalism well if you look back over the last quarter century it's b
trade deficit with. a devastated middle class. so the first part deals with those kinds of problems the second are shows what is happening to the american labor force it in effect has been turned into a third world labor force where the only available jobs are and lowly paid the best services so that they can effect. the new economy is to have an undeveloped very rural economy and the third part deals with the current. so called sovereign debt crisis in europe and shows that it's being used to...
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Apr 18, 2013
04/13
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weekend fix the budget that reduces the deficit by $1.2 trillion over 10 years and that would take a grand bargain including spending cuts and additional revenues. would turn off the automatic spending cuts and sequestration for those 10 years. i remain hopeful we can develop such a bipartisan plan but absent a so-called grand bargain, surely we could devise a balanced deficit reduction package for one year that avoid sequestration in fy2014. we simply cannot continue to ignore the effects of sequestration. sequestration will have a major impact on military personnel. the pay of military personnel has been exempt it will ask them -- for troops including schools, military children, family support programs and transition assistance programs and mental health and other counseling programs. the president's budget request continues the measure drawdown of active duty and present and strength. we have in recent years given the department numerous force shaping authorities to allow us to reduce the debt strength in a responsible way, ensuring that the service maintains the proper enforcemen
weekend fix the budget that reduces the deficit by $1.2 trillion over 10 years and that would take a grand bargain including spending cuts and additional revenues. would turn off the automatic spending cuts and sequestration for those 10 years. i remain hopeful we can develop such a bipartisan plan but absent a so-called grand bargain, surely we could devise a balanced deficit reduction package for one year that avoid sequestration in fy2014. we simply cannot continue to ignore the effects of...
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Apr 23, 2013
04/13
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how do we do the deficit reconstruction. how do we do the tough stuff. let level the playing field, let's make this responsive to the main stream businesses every day. struggle and simply asking for justice. they're simply asking for equity. i yield the floor. >>> joining us from capitol hill. what is the purpose of this senate internet sales tax bill? >> the legislation state require that online retailers charge sales tax when consumers make a purchase online. that includes retailers not within their own state. >> who are some of the supporters? why did some say it will level the -- playing field for retailers? >> the big which include retail industry. it's the big restalers -- retailers, walmart, amazon.com, which is an online retailer. they said brick and mortar are at the disadvantage. they have to charge the sales tax with the online retailers don't. consumers are technically are supposed to pay the taxes on the tax return, but studies show that most don't. so in effect online goods get that 6 to 10% on average discount. >> what about the opponents
how do we do the deficit reconstruction. how do we do the tough stuff. let level the playing field, let's make this responsive to the main stream businesses every day. struggle and simply asking for justice. they're simply asking for equity. i yield the floor. >>> joining us from capitol hill. what is the purpose of this senate internet sales tax bill? >> the legislation state require that online retailers charge sales tax when consumers make a purchase online. that includes...
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deficit's we have every financial issue they have for we what we do have and we have high unemployment in california what we do have is a pretty sound high tech economy and and lots of good functional agriculture it so now we have to figure out how to pay for the promises we made as . it's a deal or boats of being bought over the many years with these promises and so now it's time to pay them and in our most recent bankruptcy case here in the city of stock when we discovered that in fact the courts are now allowing. pensions to be thrown into bankruptcy proceedings for the first time and which means that when there are bankruptcies and many see pal is in california pensions may have to get a haircut and then they happen and one in the number of ways and one of which is to do raise contributions it would be to do you know of the benefits and this hasn't played out yet but it contravenes a california state law so we'll have to see how that that washes out all right so it's not quantitative easing in countries where it's a forced transfer of wealth from savers to speculators using artific
deficit's we have every financial issue they have for we what we do have and we have high unemployment in california what we do have is a pretty sound high tech economy and and lots of good functional agriculture it so now we have to figure out how to pay for the promises we made as . it's a deal or boats of being bought over the many years with these promises and so now it's time to pay them and in our most recent bankruptcy case here in the city of stock when we discovered that in fact the...
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deficit's we have every financial issue they have for we what we do have and we have high unemployment in california what we do have is a pretty sound high tech economy and and lots of good functional agriculture it so now we have to figure out how to pay for the promises we made as . it's a deal or boats of being bought over the many years with these promises and so now it's time to pay them and in our most recent bankruptcy case here in the city of stocky we discovered that in fact the courts are now allowing. pensions to be thrown into bankruptcy proceedings for the first time and which means that when there are bankruptcies and municipalities in california pensions may have to get a haircut and then they happen and one in the number of ways and one which is to raise contributions that will be to do no of the benefits and this hasn't played out yet but it contravenes a california state law so we'll have to see how that that washes out and so it's not quantitative easing in countries where it's a forced transfer of wealth from savers to speculators using artificially low interest rat
deficit's we have every financial issue they have for we what we do have and we have high unemployment in california what we do have is a pretty sound high tech economy and and lots of good functional agriculture it so now we have to figure out how to pay for the promises we made as . it's a deal or boats of being bought over the many years with these promises and so now it's time to pay them and in our most recent bankruptcy case here in the city of stocky we discovered that in fact the courts...
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Apr 19, 2013
04/13
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doesn't have the effect of offsetting the deficit or making the deficit look smaller? >> i would have to go back and look at that. i am not sure of hand. the money segregated in a different account for the postal service but i have to check and give you a definitive answer. >> i believe it is interested and use that you would look at that because i think it is the disguise of the deficit, one of the reasons the postal service is seen as having to do, nobody else has to do and that is what i want to get to. is 75 years of refunding health care consider the best practice? >> the pre funding is considered a best practice. >> that was not my question. this is the only business and the only federal government that it -- >> actually the defense department is free funding. >> how much are they pre funding? >> they are pretending $150 billion. >> how much as the postal service refunded? >> i believe it is about 48 -- 43. >> would you recommend the federal government, why haven't you recommended to other federal agencies best practice, is this what we should be doing and if so
doesn't have the effect of offsetting the deficit or making the deficit look smaller? >> i would have to go back and look at that. i am not sure of hand. the money segregated in a different account for the postal service but i have to check and give you a definitive answer. >> i believe it is interested and use that you would look at that because i think it is the disguise of the deficit, one of the reasons the postal service is seen as having to do, nobody else has to do and that...
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Apr 21, 2013
04/13
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is --ever, the economy due to deficit and debt. the federal deficit is at more than $1 trillion. the national debt is that more and $16 trillion. the senior director of the bipartisan policy desk says that the debt has been acutely living so much that the economy is on hiring. >> our debt is the percentage of gdp. in the last 30 or 40 years has in less than 40%. it is only in recent years that we have seen a client. the fact is, we are in dangerous territory. that thesullivan says policymakers are arguing and debating but missing the main shellshocked u.s. economy. >> joshua gordon says that the deficit is continuing to expand because of job loss, creating less revenue and more spending on aid programs. >> you have a large deficit for four years because you have low revenues and people don't have paid or they're getting less. but also we have this mandatory spending program, which grow on autopilot. food stamps programs, medicaid, based on a limited economy is bad. >> the entire financial crisis is unclear. >> i think that the underlying issues of the financial crisis have not be
is --ever, the economy due to deficit and debt. the federal deficit is at more than $1 trillion. the national debt is that more and $16 trillion. the senior director of the bipartisan policy desk says that the debt has been acutely living so much that the economy is on hiring. >> our debt is the percentage of gdp. in the last 30 or 40 years has in less than 40%. it is only in recent years that we have seen a client. the fact is, we are in dangerous territory. that thesullivan says...
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Apr 22, 2013
04/13
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CNBC
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spanish deficit was up to 10.6% of gdp. stephane joins us now live from madrid. >> there is no surprise. 10.6% of gdp. there's a reason behind it. it's the cost of bailing out the spanish banking sector. eurostadt did not give the details about the calculation, but without the cost of bailing out the banking sector, the deficit was 6.9% of gdp, which is higher than the 3% target set by the government, but of course that would be much lower than the 10%, for instance, deficit that we've seen in greece last year as a result, of course, the spanish debt is rising. it's now 84.2% of the spanish gdp. that's a sharp increase if you compare to the level before the prices in spain. and there's a paradox in that announcement. yes, we've seen some positive reaction on the bond market. the other part is that it will actually help the government to ask for more time to reduce its public deficit below 3% of ggdp. the new target will be 2016, two years later than expected, and that will give the government a bit of precome, a bit of marg
spanish deficit was up to 10.6% of gdp. stephane joins us now live from madrid. >> there is no surprise. 10.6% of gdp. there's a reason behind it. it's the cost of bailing out the spanish banking sector. eurostadt did not give the details about the calculation, but without the cost of bailing out the banking sector, the deficit was 6.9% of gdp, which is higher than the 3% target set by the government, but of course that would be much lower than the 10%, for instance, deficit that we've...
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70
Apr 24, 2013
04/13
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CSPAN2
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eye 70
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reducing our deficit and a balanced way and as before the plan that would do that and would eliminate the sequester in the process. when it comes to these delays, though, congress passed an act in order to avoid these delays. >> the fact you are not asking for the ability to prioritize spending under the faa suggests -- >> what i am saying -- >> you want to sequester to inflect -- >> since we did everything we could to avert the sequester and unfortunately republicans decided as a political matter that it was a home-run for them to end like this upon the american people, i think that suggestion just as not hold wrote to buy water. secondly, the faa did take all the action it could under lots of produce the savings and avoid furloughs up until this point where because of the nature of the budget and the personnel had the nature of their operations, furloughs are the only option available to the faa at this time. now, again, if congress wants to address this matter then they should act, but this is something that only by law congress can do. [inaudible question] cheeks. [inaudible quest
reducing our deficit and a balanced way and as before the plan that would do that and would eliminate the sequester in the process. when it comes to these delays, though, congress passed an act in order to avoid these delays. >> the fact you are not asking for the ability to prioritize spending under the faa suggests -- >> what i am saying -- >> you want to sequester to inflect -- >> since we did everything we could to avert the sequester and unfortunately republicans...
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65
Apr 18, 2013
04/13
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CSPAN2
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eye 65
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raise it to 70, and you fix two-thirds of the social security deficit. you can fix the remaining third by means testing the benefits. i thought that there'd be bipartisan support for that because the president has occasionally said he's for entitlement reform, but he, i think, has not shown much leadership on this. seems to be inching more towards it, but i had a meeting with him back when we used to have 47 republican senators, we sat down around a table like this with he and the vice president. this was probably a year and a half ago. and i told him precisely that, that i think we should be able to get people on pote sides of the equation -- on both sides of the equation just to, essentially, fix social security. medicare's a more difficult problem. it's $35-40 billion short, and these are problems that drive your deficit. everybody here knows this. two-thirds of the budget is entitlements. to we have another -- so we have another bill that fixes medicare. it's $35-40 trillion on the whole we do the same thing. we age the -- raise the age grawjally, we
raise it to 70, and you fix two-thirds of the social security deficit. you can fix the remaining third by means testing the benefits. i thought that there'd be bipartisan support for that because the president has occasionally said he's for entitlement reform, but he, i think, has not shown much leadership on this. seems to be inching more towards it, but i had a meeting with him back when we used to have 47 republican senators, we sat down around a table like this with he and the vice...
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109
Apr 22, 2013
04/13
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CSPAN
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the federal deficit is at more than $1 trillion. the resulting national debt is at more than $16 trillion. stephen bell, a senior director of the bipartisan policy desk says that the debt has been accumulating so much that the economy is at a high risk. >> our debt is the percentage of gdp. in the last 30 or 40 years, it >> our debt is the percentage of g inr yearst has en less than 40%. itly in recent years that we have seen it climb. the fact is we are entering dangerous territory. >> deborah solomon of the "bloomberg view" says that the policymakers are arguing and debating over causes but missing the main culprit -- a shellshocked u.s. economy. >> joshua gordon says that the deficit is continuing to expand because of job loss, causing less revenue and more spending on aid programs. >> you have a large deficit for four years because you have low revenues and people don't have jobs, or they're getting paid less. but also we have this mandatory spending program, which grow on autopilot. unemployment compensation, food stamps progra
the federal deficit is at more than $1 trillion. the resulting national debt is at more than $16 trillion. stephen bell, a senior director of the bipartisan policy desk says that the debt has been accumulating so much that the economy is at a high risk. >> our debt is the percentage of gdp. in the last 30 or 40 years, it >> our debt is the percentage of g inr yearst has en less than 40%. itly in recent years that we have seen it climb. the fact is we are entering dangerous...
65
65
Apr 20, 2013
04/13
by
CSPAN2
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eye 65
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many of you have heard richard's book, the last child in the woods about children's nature deficit disorder, as he calls it. this has happened slowly. it started with writers like jack london and william long that theodore roosevelt called major fakers. that put -- we go through how we began increasingly to get our views of nature digitally and on screens rather than hands-on a stewardship kind of things. and so we took ourselves out of the storage of business. we took our cells out of the prediction business. huge swaths of the white tailed year's historic range, which is that eastern one-third of the united states, it's off-limits to human predation, and there is all sorts of evidence not to suggest that the biggest predator of white tail deer since the end of the last ice age is not wolves and cougars but human beings. so -- and i had messages is wildlife do a study. two rules which we all think of much. you cannot discharge a firearm within 150 feet of a hard surface road in massachusetts or thin 500 feet of an occupied dwelling. massachusetts has a lot of rose and a lot of people. it i
many of you have heard richard's book, the last child in the woods about children's nature deficit disorder, as he calls it. this has happened slowly. it started with writers like jack london and william long that theodore roosevelt called major fakers. that put -- we go through how we began increasingly to get our views of nature digitally and on screens rather than hands-on a stewardship kind of things. and so we took ourselves out of the storage of business. we took our cells out of the...
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deficit's we have every financial issue they have for we what we do have and we have high unemployment in california what we do have is a pretty sound high tech economy and and lots of good functional agriculture it so now we have to figure out how to pay for the promises we made as . it's a deal or boats of being bought over the many years with with these promises and so now it's time to pay them and in our most recent bankruptcy case here in the city of stopping we discovered that in fact the courts are now allowing. pensions to be thrown into bankruptcy proceedings for the first time and which means that when there are bankruptcies and municipalities in california pensions may have to get a haircut and that may happen and one in the number of ways and one of which is to to raise contributions it would be to do no of the benefits and this hasn't played out yet but it contravenes a california state law so we'll have to see how that that washes out all right so it's not quantitative easing in countries where it's a forced transfer of wealth from savers to speculators using artificially
deficit's we have every financial issue they have for we what we do have and we have high unemployment in california what we do have is a pretty sound high tech economy and and lots of good functional agriculture it so now we have to figure out how to pay for the promises we made as . it's a deal or boats of being bought over the many years with with these promises and so now it's time to pay them and in our most recent bankruptcy case here in the city of stopping we discovered that in fact the...
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64
Apr 18, 2013
04/13
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CSPAN2
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eye 64
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who's cating econmic growth with good jobs, balancing, having aal aancedproach to deficit reduction and strengthen the middle class. as i said, last week our focus in the next little while will be on guns and budget, talked about budget. i will be joined by my colleague, congressman mike thompson of california. congressman thompson is a vietnam vet, a wounded vietnam vet. he is a gun owner, hunter. is the head of our task force on gun violence prevention, and he is a co-author of the bipartisan bill in the house with peter king. to put forth a manchin-toomey compromise that failed, so sadly, in the senate last night. we are so disappointed. our sorrow was expressed so appropriately by president obama last night that i invited mike to join us here to tell you where we go from here and to answer the question that people are saying what can we do to change this. mike, would you speak -- thank you for your leadership. >> thank you, leader pelosi. it's a pleasure and honor to join you, to talk about and to answer any questions that you guys may have on gun violence prevention. -manchin amend
who's cating econmic growth with good jobs, balancing, having aal aancedproach to deficit reduction and strengthen the middle class. as i said, last week our focus in the next little while will be on guns and budget, talked about budget. i will be joined by my colleague, congressman mike thompson of california. congressman thompson is a vietnam vet, a wounded vietnam vet. he is a gun owner, hunter. is the head of our task force on gun violence prevention, and he is a co-author of the bipartisan...
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88
Apr 23, 2013
04/13
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CSPAN2
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eye 88
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it's also not directed to where we really need to do to reduce the deficit. once again sequestration applies to discretionary spending primarily, it provides a fourth round of cuts, we've already had cuts over the last three years and for the agencies that are affected, it's equivalent to about a 10% cut. you can't do that without seriously affecting the mission of the agencies. and that is just wrong. and that's why i have said from the beginning, let's replace sequestration. well, march 1 came, sequestration came, people woke up the next day and said what's the big deal? well, we're finding out what the big deal is all about. we just heard from the budget of the f.a.a., the air traffic controllers, that because of sequestration they have little option, 85% of their proiption praitional budget is in personnel and air traffic controllers are most of the personnel. so therefore they've announced this have to furlough 11 days during the remainder of this fiscal year, and that comes out to about one furlough day over each work period. it's as much as a 10% reduc
it's also not directed to where we really need to do to reduce the deficit. once again sequestration applies to discretionary spending primarily, it provides a fourth round of cuts, we've already had cuts over the last three years and for the agencies that are affected, it's equivalent to about a 10% cut. you can't do that without seriously affecting the mission of the agencies. and that is just wrong. and that's why i have said from the beginning, let's replace sequestration. well, march 1...
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97
Apr 22, 2013
04/13
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CSPAN
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eye 97
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the federal deficit is at more than $1 trillion. the resulting national debt is at more than $16 trillion. stephen bell, a senior director of the bipartisan policy desk says that the debt has been accumulating so much that the economy is at a high risk. >> our debt is the percentage of gdp. in the last 30 or 40 years, it has been less than 40%. it is only in recent years that we have seen it climb. the fact is we are entering dangerous territory. >> deborah solomon of the "bloomberg view" says that the policymakers are arguing and debating over causes but missing the main culprit -- a shellshocked u.s. economy. >> joshua gordon says that the deficit is continuing to expand because of job loss, causing less revenue and more spending on aid programs. >> you have a large deficit for four years because you have low revenues and people don't have jobs, or they're getting paid less. but also we have this mandatory spending program, which grow on autopilot. unemployment compensation, food stamps programs, medicaid-- they spend more when th
the federal deficit is at more than $1 trillion. the resulting national debt is at more than $16 trillion. stephen bell, a senior director of the bipartisan policy desk says that the debt has been accumulating so much that the economy is at a high risk. >> our debt is the percentage of gdp. in the last 30 or 40 years, it has been less than 40%. it is only in recent years that we have seen it climb. the fact is we are entering dangerous territory. >> deborah solomon of the...
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60
Apr 24, 2013
04/13
by
CSPAN2
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eye 60
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two weeks to stand up for the shadow council on the deficit, two weeks to stand up to backbenchers on welfare, two weeks to stand up to the trade unions on just about anything. it is a week in which he said goodbye to david miliband and hello to george galloway. no wonder, no wonder tony blair said their fellow travelers are not listed he was ousted the right. [shouting] >> order. statements for home secretary. >> here on c-span2 we will leave the british house of commons now as they move on to other legislative business. you've been watching prime minister's question time aired live wednesdays at 7 a.m. eastern while parliament is in session. you can see this week's question time again sunday night at nine eastern and pacific on c-span. and for more information go to c-span.org, click on c-span series for prime minister's questions complies with international news media and legislatures around the world. you can also watch recent video, clean programs did with other international issues. >> oh, my ticker to secretary janet napolitano testified yesterday about the relationship between
two weeks to stand up for the shadow council on the deficit, two weeks to stand up to backbenchers on welfare, two weeks to stand up to the trade unions on just about anything. it is a week in which he said goodbye to david miliband and hello to george galloway. no wonder, no wonder tony blair said their fellow travelers are not listed he was ousted the right. [shouting] >> order. statements for home secretary. >> here on c-span2 we will leave the british house of commons now as...